Over And Above


Sri Lankas largest private bank, Hatton National Bank (HNB), said its debenture was oversubscribed by a little over Rs. 1 bn when the issue opened Tuesday.
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"We saw a strong demand from our retail customers for the shorter maturities of five and seven years.
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But the demand for the longer end 10 years came from institutional investors," HNBs DGM Duleep Daluwatte told Lanka Business Online.
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rnHNB initially planned to raise Rs. 1.5 bn unsecured subordinated, redeemable debentures, which would be listed on the Colombo bourses debt board.

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A further Rs. 500 mn was to be issued in the event of an oversubscription.
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rnThe funds were raised mainly to boost the banks Tier II capital and ease the maturity mix match between its assets and liabilities. rn

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